Soybeans

Soybean futures are sticking right around UNCH this morning. They finished Monday with most contracts 1/2 to 2 cents lower. Sept soy meal was down $2.00/ton, with nearby bean oil 20 points higher. The Export Inspections report showed soybean shipments 55.61% above last week and 16.62 larger than a year ago at 1.11 MMT. The crop progress report showed 22% of the soybean acreage dropping leaves, vs. the average of 25% for this date. Conditions fell 1% to 60 gd/ex, and the Brugler500 Index was down 2 points to 356. Ahead of today’s USDA supply and demand report, traders are estimating 17/18 world soybean ending stocks will show a slight reduction from August, at 97.2 MMT.




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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